Saturday, February 2, 2008

Meriton's Brisbane Plans

"After declaring Brisbane a "backwater" in the 1980s, one of the country's most successful property developers has announced plans for his second high-rise building - tipped to be 80 to 90 storeys.

Harry Triguboff steered clear of the Sunshine State's capital for decades, concentrating on Sydney and the Gold Coast and celebrating the success of his development company, Meriton Apartments.

But last year the billionaire property tycoon announced the purchase of a site on Adelaide Street and released plans for a 70-storey tower.

Now Brisbane is set to receive a second Meriton-built tower, with plans for a $450 million mixed-use tower of 80 to 90 storeys.

Meriton paid $25 million for the 43 Herschell Street site and plans to begin construction at the end of the year, the Australian Financial Review reports.

The 1800m2 plot is currently home to a car park, but could eventually accommodate a mammoth building comprising 650 residential apartments.

The company said it planned to engage leading architects and designers to finalise plans.

Meanwhile, construction of Meriton's Adelaide Street development could begin within months. When built it will stand taller than the nearby 67-storey Aurora Building, and in terms of height will equal the 250m Trilogy Tower high-rise on Queen Street, planned by developer APH.

Meriton's Adelaide Street tower will comprise 403 apartments, 200 of which will be serviced hotel suites managed by the company."